IBS Journal February 2017
41
closely together with UBS, while maintaining commitments to productivity and quality of delivery,” says Mike Dargan, Group Head of Information Technology, UBS. “We now look forward to evolving this valued relationship further over the coming years.”
$800 MILLION…Alibaba affiliate, Ant Financial, is to acquire US money transfer outfit MoneyGram for
$880 million. The deal, expected to close in the second half of 2017, will connect MoneyGram’s network of 2.4 billion bank and mobile accounts and 350,000 physical locations with Ant Financial’s users.
$64 MILLION… German FinTech, Raisin, has pulled in $30 million in Series C funding, bringing the total
raised to $64 million. The round was led by US-based Thrive Capital and also included existing investors Ribbit Capital and Index Ventures. The startup helps customers maximise interest rates by moving money around bank accounts across the EU and recently surpassed €2.2 billion in assets under management.
“Europe is a continent of savers who tend to put 70-80% of their liquid assets into accounts earning almost zero interest and despite this, they hardly ever switch banks. The two billion Euros that European savers have deposited with Raisin proves that offering higher interest rates and making it easy and painless for people to move their deposits between banks is an attractive proposition,” says Neil Rimer, partner at Index Ventures.
18%… of shoppers have used their phones to pay in a shop, according to a Mobile Ecosystem Forum (MEF) study
covering 6,000 consumers in nine countries. Apple Pay is a key player here. Now available in 13 countries, the service has greatly improved awareness of the mobile wallet. But the biggest impact has come from China. The research reveals 38% of Chinese consumers have made an in-store mobile payment. This is thanks to the likes of Tencent/WeChat and Alipay. Their users frequently make QR-code based payments with these products in physical stores.
The study also found 78% of people had made a purchase by mobile in the previous six months – up 4% on the figure for 2014. 61%, meanwhile, now use their device to bank, with 44% using apps to check their balances (28% in 2014), and 29% paying bills from the handset (against 20% in 2014). Hurdles remain, however. 58% of people have started to pay for something, only to abandon it before checkout. 31% said this was because they were asked for too much sensitive information, while for 21% the process was too long.
www.ibsintelligence.com
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